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A Michigan Senate committee recently considered legislation that would allow for the creation of an income tax credit based on annual student loan payments of Michigan college graduates. 

Sponsored by Senator Curtis Hertel, Jr., the measure would provide the non-refundable credit --equal to the lesser of either half the amount paid on qualifying state or federal student loans, or 20 percent of the state's average tuition cost--to qualified, employed Michigan residents.  The credit would only apply to those students graduating after May 1, 2015, and would only be available to the individual taxpayer in the five years immediately after graduation.  

The purpose of the measure, according to Hertel, is to encourage graduates from Michigan colleges and universities to remain in Michigan while building their adult lives and careers.  While many fellow policy makers voiced interest in the program, they also expressed concerns regarding the program's ultimate cost--an apprehension as the state once again tightens its belt in the face of declining revenues.

Representative Brandt Iden, along with fellow members of the Michigan Legislature and WMU President John M. Dunn, will formally announce a state earmark for the Michigan Geological Survey on Thursday, Sept. 29 at the Michigan Geological Repository for Research and Education.

The survey is slated to receive $500,000 in state funding to perform statewide geological mapping that assesses vital natural resources. A related project involving water quality in Portage will also be announced.